MENTORSHIP AND INTERNSHIP AS CORRELATE OF BUSINESS START-UPS AMONG YOUNG PEOPLE IN LAGOS STATE, NIGERIA

Abstract

The rise of business startups in Nigeria have been threatened by the inability to remain viable and stand the test of time in the competitive market. This has resulted in many startups folding up nearly daily. The study therefore aims to examine mentorship and internship as correlate of business startups among young people in Lagos state, Nigeria. Two research questions were   answered. Descriptive survey research design was employed for this study. The population of the study comprised graduates of a training institute with specific focus on potential entrepreneurs, and the coordinators of Lagos State Chamber of Commerce and Industry (LSCCI), and Bank of Industry (BOI) respectively who oversee training and development units. To gather information from characteristics that can give relevant and useful responses to the research questions, purposive sampling technique was deployed to select 10 respondents each from LSCCI and BOI, and a coordinator each from these two government agencies. In all, 22 respondents were selected for this study comprising of 20 trainees and two coordinators. Interview was used for gathering of qualitative data to establish how mentorship and internship serve as correlate for business startups among young people. The analysis of the qualitative data was done using thematic analysis. Findings from the study reveal that mentorship has improved the orientation and skills of young people towards start-ups, and that internship has relationship with the start-ups among young persons in Lagos. The study concluded that mentorship and internship have relationship with start-ups among young people in Lagos, but it is obvious that mentorship has more influences. The study therefore recommended among others that, mentorship and internship programmes be strongly promoted in the higher institutions of learning.